Indonesia Insurance Report Q4 2016

Date: September 14, 2016
Pages: 59
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: I3EB327F984EN

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Includes 3 FREE quarterly updates

BMI View: We have a positive long-term outlook for Indonesia's insurance sector over the 2016-2020 period. With an average annual growth rate of over 10% for total premiums and low rates of penetration and density, we expect the market to become increasingly attractive to (foreign) investors as there is scope for development. Particularly basic motor and property lines should grow significantly over the coming years, as household disposable incomes continue to rise. Some regulatory barriers may, however, potentially put a lid on the sector's ongoing development.

Key Updates and Forecasts
  • Forecast to account for 69% of total written premiums in 2016, life insurance constitutes the larger segment of Indonesia's insurance sector. Over the next five years, the life market should expand by roughly 12% annually on average - reaching USD14.6bn in 2020.
  • Indonesia's smaller and less developed non-life insurance segment is expected to grow by 9.3% annually on average over the 2016-2020 period, which means that it will be outpaced by the faster growing life segment. Non-life premiums will be driven primarily by motor and property insurance. In 2020, non-life premiums should amount to USD5.9bn.
  • Insurance premiums growth in Indonesia over the next five years should mainly be pushed upward by the growing levels of household disposable incomes, which will improve the affordability of many of the marketed insurance products. However, it is important to continue to raise customer awareness of the benefits of life and non-life insurance in general, in order to further generate an uptick in demand
BMI Industry View
  Table: Headline Insurance Forecasts (Indonesia 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Indonesia 2013-2020)
  Table: Life Insurance Claims (Indonesia 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Indonesia 2013-2020)
  Table: Non-Life Insurance Claims (Indonesia 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Indonesia 2013-2020)
Insurance Risk/Reward Index
Asia Pacific Industry Risk/Reward Index
  Table: Asia Pacific Insurance Risk/Reward Index Q416
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Premiums (USDmn), 2009-2013
Non-Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Insurance Premiums (USDmn), 2008-2014
Company Profile
AIA Group
Manulife Financial
Prudential plc
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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Indonesia Insurance Report Q1 2016 US$ 1,295.00 Dec, 2015 · 57 pages
Indonesia Insurance Report Q3 2016 US$ 1,295.00 Jun, 2016 · 59 pages

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